Sunteck Realty Limited has successfully concluded its postal ballot process conducted on March 7, 2026, with all three proposed resolutions receiving approval from shareholders with requisite majority. The company announced the voting results on March 9, 2026, following scrutinization by appointed scrutinizer Veeraraghavan N., a practicing company secretary.

Postal Ballot Overview

The postal ballot was conducted for 58,945 shareholders on record date January 30, 2026. The remote e-voting facility was available from February 6, 2026, at 9:00 AM to March 7, 2026, at 5:00 PM through National Securities Depository Limited (NSDL) platform.

Resolution Results

All three resolutions were successfully passed with strong shareholder support:

Resolution 1: Re-appointment of Independent Director

The special resolution for re-appointment of Mr. Chaitanya Dalal (DIN: 00185847) as Independent Director received overwhelming support with 93.69% approval:

Resolution 2: Second Independent Director Re-appointment

The special resolution for re-appointment of Mr. Mukesh Jain (DIN: 01316027) as Independent Director secured approval with 90.32% votes in favour:

Resolution 3: Subsidiary Transactions Approval

The ordinary resolution to approve subsidiary transactions under Regulation 23 of Listing Regulations received approval with 84.99% votes in favour. Notably, promoter group abstained from voting on this resolution, with only public shareholders participating:

Scrutinizer Report

Veeraraghavan N., appointed as scrutinizer by the Board on January 27, 2026, confirmed the transparent conduct of the postal ballot process. The scrutinizer's report highlighted that the postal ballot notice was sent electronically on February 4, 2026, and published in The Free Press Journal (English) and Navshakti (Marathi) on February 5, 2026.

The scrutinizer monitored the e-voting process through NSDL's secured platform and confirmed that all resolutions were approved with requisite majority. The detailed voting results showed strong participation from shareholders across all categories, with total votes polled ranging from 19.43% to 82.73% of outstanding shares depending on the resolution.

The successful completion of all resolutions strengthens the company's governance structure with the re-appointment of experienced independent directors and provides necessary approvals for subsidiary operations under regulatory compliance.

Sunteck Realty Limited has issued a comprehensive postal ballot notice dated 4 February 2026, seeking shareholder approval for critical corporate governance matters and subsidiary transactions through remote e-voting process.

Key Resolutions for Shareholder Approval

The company has proposed three resolutions for member consideration through the postal ballot process:

Independent Director Re-appointments

Both Mr. Chaitanya Dalal and Mr. Mukesh Jain were initially appointed as Independent Directors on 18 September 2021, with their first term concluding on 17 September 2026. The Nomination and Remuneration Committee has recommended their re-appointment based on performance evaluation.

Director Profiles and Expertise

Mr. Chaitanya Dalal (Age: 72 years)

• Practicing Chartered Accountant and Managing Partner of M/s. Chaitanya C Dalal & Co, Mumbai
• Extensive experience in statutory audits, tax audits, and internal audits of public sector undertakings
• Former Head of Accountancy Department at Bhavan's College, Mumbai for 25 years
• Holds certificates in ISO 9000 Lead Auditor's Course, Valuation, and Advanced International Taxation

Mr. Mukesh Jain (Age: 70 years)

• Law graduate from Shri Ram College of Commerce, New Delhi
• Nearly 49 years of experience, starting as a banker and currently practicing law
• Specializes in banking, real estate, tenancy, infrastructure, and insolvency laws
• Empaneled with several nationalized banks for legal advice

Both directors will be re-appointed for a second term of 5 consecutive years until 17 September 2031. The resolutions also include provisions for their continuation beyond age 75 years, as Mr. Dalal will turn 75 on 24 September 2028 and Mr. Jain on 15 October 2030.

Subsidiary Transaction Approvals

The third resolution seeks approval for transactions involving the company's subsidiaries related to a Dubai real estate project. The key transactions include:

Project Structure and Transactions

Dubai Project Details:

• Ultra luxury branded residential project located at Burj Khalifa Community, Downtown Dubai
• Development potential of approximately 1 million sq. ft.
• Joint venture with Grand Valley General Trading LLC

Key Transaction Limits:

Previous Transaction History

E-voting Process and Timeline

The company has engaged National Securities Depository Limited (NSDL) to provide e-voting facilities to all members. The postal ballot notice is being sent electronically to members whose email addresses are registered with the company, depositories, or registrar and transfer agent.

Important Dates

Scrutinizer and Compliance

Mr. Veeraraghavan N (CP No. 4334), Practicing Company Secretary, has been appointed as the Scrutinizer to conduct the postal ballot process and scrutinize votes in a fair and transparent manner. The results will be communicated to stock exchanges and uploaded on the company's website and NSDL's e-voting portal.

The Audit Committee and Board of Directors approved these transactions at their meeting held on 27 January 2026, noting that all transactions are conducted at arm's length basis and in the ordinary course of business. The company has confirmed that none of the promoters, directors, or key managerial personnel have any direct or indirect interest in the proposed transactions, except to the extent of their shareholding in the company.